The hurdles are too high for a Dell buyout to happen, Sanford Bernstein Senior Analyst Toni Sacconaghi said Tuesday on CNBC.

"I ultimately think when push comes to shove, it will not happen," he said. "It's a very large LBO. This will be one of the largest LBOs of all time, with an acquisition cost well over $20 billion."

On "Fast Money," Sacconaghi also said that it would be a pricey move for any potential buyers.

"Against that backdrop, you have a pretty risky environment in the sense that the PC marketplace is going through a lot of change right now," he said.

While the valuation of Dell stock was "pretty darned attractive" and low interest rates could help spur such a deal, Sacconaghi said that it wasn't likely.

"When push comes to shove, the deal doesn't get done," he added.

Trader disclosure: On Jan. 15, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long VRTS; Joe Terranova is long AAPL; Joe Terranova is long GS; Joe Terranova is long MS; Joe Terranova is long GLW; Joe Terranova is long DELL; Joe Terranova is long SWN; Joe Terranova is long XOM; Steve Weiss is long JPM; Steve Weiss is long BAC; Steve Weiss is long C; Steve Weiss is long FB; Michael Murphy is long AAPL; Michael Murphy is long C; Michael Murphy is long TGT; Michael Murphy is long FB; Jon Najarian is long calls in MS; Jon Najarian is long calls in DELL; Jon Najarian is long calls in CLF; Jon Najarian is long calls in ARNA; Jon Najarian is long VVUS; Jon Najarian is long NE; Jon Najarian is long OREX;

For Toni SacconaghiBernstein currently makes a market in the following companies DELL / Dell Inc.; Bernstein currently makes a market in the following companies AAPL / Apple Inc.

For Gregory PeteresWithin the last 12 months, Morgan Stanley managed or co-managed a public offering (or 144A offering) of securities of PORTUGUESE REPUBLIC, REPUBLIC OF FRANCE, REPUBLIC OF KOREA, RUSSIAN FEDERATION; Within the last 12 months, Morgan Stanley has received compensation for investment banking services from HELLENIC REPUBLIC, ITALIAN REPUBLIC, PORTUGUESE REPUBLIC, REPUBLIC OF FRANCE, REPUBLIC OF KOREA, RUSSIAN FEDERATION; In the next 3 months, Morgan Stanley expects to receive or intends to seek compensation for investment banking services from HELLENIC REPUBLIC, ITALIAN REPUBLIC, KINGDOM OF SPAIN, PORTUGUESE REPUBLIC, REPUBLIC OF FRANCE, REPUBLIC OF KOREA, RUSSIAN FEDERATION; Within the last 12 months, Morgan Stanley has received compensation for products and services other than investment banking services from HELLENIC REPUBLIC, ITALIAN REPUBLIC, KINGDOM OF SPAIN, PEOPLE'S BANK OF CHINA, PORTUGUESE REPUBLIC, REPUBLIC OF FRANCE, REPUBLIC OF KOREA, RUSSIAN FEDERATION; Within the last 12 months, Morgan Stanley has provided or is providing investment banking services to, or has an investment banking client relationship with, the following company: HELLENIC REPUBLIC, ITALIAN REPUBLIC, KINGDOM OF SPAIN, PORTUGUESE REPUBLIC, REPUBLIC OF FRANCE, REPUBLIC OF KOREA, RUSSIAN FEDERATION; Within the last 12 months, Morgan Stanley has either provided or is providing non-investment banking, securities-related services to and/or in the past has entered into an agreement to provide services or has a client relationship with the following company: HELLENIC REPUBLIC, ITALIAN REPUBLIC, KINGDOM OF SPAIN, PEOPLE'S BANK OF CHINA, PORTUGUESE REPUBLIC, REPUBLIC OF FRANCE, REPUBLIC OF KOREA, RUSSIAN FEDERATION; Morgan Stanley & Co. International PLC and its affiliates have a significant financial interest in the debt securities of HELLENIC REPUBLIC, ITALIAN REPUBLIC, KINGDOM OF SPAIN, PORTUGUESE REPUBLIC, REPUBLIC OF FRANCE, REPUBLIC OF KOREA, RUSSIAN FEDERATION; Morgan Stanley Bank AG currently acts as a designated sponsor for the following securities: RUSSIAN FEDERATION.